December 8, 2016 / 6:15 PM / 8 months ago

Daily Mail publisher to cut stake in Euromoney

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(Reuters) - The publisher of the Daily Mail said on Thursday it would reduce its holding in Euromoney Institutional Investor Plc (ERM.L) to about 49 percent from about 67 percent to improve its investment portfolio and lower its debt.

Daily Mail and General Trust Plc (DMGOa.L) said it intends to sell about 32 million shares in Euromoney, publisher of the Euromoney magazine, via a secondary placing and a buyback of shares by Euromoney.

Reporting by Sanjeeban Sarkar in Bengaluru

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